South Dakota State University Growth Partnership Ltd
- Assets
- $17.6m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 3
- Location
- Brookings, SD
- Founding
- 09/2006
- Data as of
- 12/2020
- EIN
- 20-2506183
Organization Overview
South Dakota State University Growth Partnership Ltd is located in Brookings, SD. The organization was established in 2006. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 12/2020, South Dakota State University Growth Partnership Ltd employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. South Dakota State University Growth Partnership Ltd is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2020, South Dakota State University Growth Partnership Ltd generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 18.5% each year . All expenses for the organization totaled $684.4k during the year ending 12/2020. While expenses have increased by 0.6% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO BUILD AN ECONOMIC BASE OF NEWLY DEVELOPED TECHNOLOGIES AND BUSINESSES WITHIN SOUTH DAKOTA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SOLE PURPOSE IN CREATING AND DEVELOPING THE RESEARCH PARK IN THE CITY OF BROOKINGS, SOUTH DAKOTA IS TO BENEFIT THE SCIENTIFIC AND EDUCATIONAL PROGRAMS OF SDSU. THIS IS ACCOMPLISHED BY SUPPORTING EFFORTS TO APPLY LEARNING AND RESEARCH TO CREATE ECONOMIC OPPORTUNITIES. THE RESEARCH PARK THROUGH THE BROOKINGS INNOVATION CENTER PROVIDES START-UP BUSINESSES WITH ACCESS TO SEASONED ENTREPRENEURS. THE RESIDENT ENTREPRENEURS INCLUDE ORGANIZATIONS SUCH AS COPYRIGHT AND TRADEMARK ATTORNEYS; A FULL TIME CPA; ANGEL FUNDS; AND ACCESS TO THE SMALL BUSINESS DEVELOPMENT CENTER TO DEVELOP BUSINESS PLANS, MARKETING PLANS AND FINANCIAL PROJECTIONS. THIS PAST YEAR THE BROOKINGS INNOVATION CENTER ASSISTED WITH SEVERAL STUDENT AND FACULTY PROJECTS. THROUGH A COLLABORATIVE EFFORT BETWEEN OUR RESIDENT ENTREPRENEURS, THE BROOKINGS INNOVATION CENTER TEAM ASSISTED IN STARTING 3 NEW COMPANIES IN 2020. THE PARK CAPITAL ANGEL FUND HAS INVESTED $500,000 COLLECTIVELY. THESE COMPANIES COLLECTIVELY HAVE RAISED AN ADDITIONAL $25 MILLION. THESE COMPANIES HAVE CREATED APPROXIMATELY 35 JOBS IN THE STATE, REGION AND NATIONALLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dwaine Chapel Executive Director | Officer | 40 | $144,000 |
Jay Bender Chairman | OfficerTrustee | 0.5 | $0 |
Keith Corbett Vice Chairman | OfficerTrustee | 0.5 | $0 |
Kevin Tetzlaff Board Member | Trustee | 0.5 | $0 |
Jim Morgan Board Member | Trustee | 0.5 | $0 |
Larry Tidemann Board Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,133,077 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,133,077 |
| Total Program Service Revenue | $319,808 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,452,885 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $144,000 |
| Compensation of current officers, directors, key employees. | $36,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $16,386 |
| Pension plan accruals and contributions | $3,420 |
| Other employee benefits | $0 |
| Payroll taxes | $11,879 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $32,859 |
| Advertising and promotion | $7,009 |
| Office expenses | $12,750 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $194,287 |
| Travel | $7,754 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $9,934 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $205,984 |
| Insurance | $11,393 |
| All other expenses | $26,754 |
| Total functional expenses | $684,409 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $219,658 |
| Pledges and grants receivable | $697,958 |
| Accounts receivable, net | $18,561 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,207 |
| Net Land, buildings, and equipment | $6,506,422 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $43,000 |
| Intangible assets | $0 |
| Other assets | $10,143,926 |
| Total assets | $17,631,732 |
| Accounts payable and accrued expenses | $588,625 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $180,703 |
| Unsecured mortgages and notes payable | $150,000 |
| Other liabilities | $14,618 |
| Total liabilities | $933,946 |
| Net assets without donor restrictions | $7,624,137 |
| Net assets with donor restrictions | $9,073,649 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $17,631,732 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that South Dakota State University Growth Partnership Ltd has recieved totaling $120,000.
| Awarding Organization | Amount |
|---|---|
Brookings Economic Development Corporation Brookings, SD PURPOSE: Pass-Through | $120,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Minnesota Transitions Chartered School Minneapolis, MN | $28,235,035 | $63,864,968 |
College Possible Saint Paul, MN | $23,283,310 | $31,201,183 |
Midwest Dairy Association Saint Paul, MN | $7,228,337 | $23,101,295 |
Und Sports Facilities Inc Grand Forks, ND | $57,543,376 | $14,333,337 |
Community Action Partnership Of Mid-Nebraska Kearney, NE | $10,567,482 | $13,526,656 |
St Paul City School St Paul, MN | $6,285,490 | $9,442,026 |
Iowa Association For The Education Of Young Children Inc Urbandale, IA | $815,186 | $7,200,490 |
Omaha Early Learning Centers Inc Omaha, NE | $0 | $8,526,168 |
East Dakota Educational Cooperative Sioux Falls, SD | $5,426,642 | $6,544,285 |
Minnesota Society Of Certified Public Accountants Bloomington, MN | $11,208,207 | $6,449,608 |
Bair Ranch Foundation Billings, MT | $61,742,372 | $8,939,986 |
Grand View Christian School Association Inc Des Moines, IA | $3,097,175 | $6,383,728 |